5 things to know before the stock market opens Friday

5 things to know before the stock market opens Friday


  • Former President Donald Trump is charged with federal criminal charges.
  • GM is adopting Tesla charging technology, as is Ford.
  • Wildfire smoke moves south after days of unhealthy air in northeastern United States

Traders work on the floor of the New York Stock Exchange (NYSE) on June 1, 2023 in New York City.

Spencer Platt | Getty Images

Here are the most important information investors need to start their trading day:

Markets have been pretty muted this week, and Friday has been no exception so far. Futures contracts linked to the S&P500 And Nasdaq Compound were largely flat in morning trading, while Dow Jones Industrial Average futures traded about 0.2% lower. With the debt ceiling debacle in the rearview mirror and no major economic data released this week, Wall Street has taken a breather. As close to Thursday, the S&P 500 is up nearly 0.3%, the Dow was up 0.2% and the Nasdaq Composite was down just 0.02%. Follow live market updates.

Former U.S. President Donald Trump speaks on the phone between shots as he competes in the Pro-Am tournament ahead of the LIV Golf Invitational at Trump National Golf Club in Sterling, Virginia, U.S. May 25, 2023.

Jonathan Ernest | Reuters

Former president donald trump been charged with seven federal criminal counts linked to classified documents he kept at his home in Mar-a-Lago, Florida. He will appear in court in Miami on Tuesday. This is the former Republican president and 2024 candidate’s second criminal indictment, after a New York state grand jury filed charges of falsifying business records. Trump, who himself revealed the latest indictment via a social media post, maintained his innocence in both cases and called the investigation into the documents and the resulting charges “an interference election at the highest level”. Follow live updates on the case of the documents and the indictment.

A Tesla electric vehicle charging station sits in a parking lot in Washington on Friday, April 7, 2023. (Bill Clark/CQ-Roll Call, Inc via Getty Images)

Bill Clark | Cq-roll Call, Inc. | Getty Images

General Motors is the latest historic automaker to partner with the leader in electric vehicles You’re here use its network of Superchargers. Below the agreement, which closely resembles a partnership struck last month between Tesla and Ford, GM owners will have access to 12,000 Tesla Superchargers across the country starting next year. GM will also begin integrating Tesla’s charging technology into its electric vehicles starting in 2025. The pair of partnerships is an important step towards a unified charging standard for American electric vehicles. The three CEOs – GM’s Mary Barra, Ford’s Jim Farley and Tesla Elon Musk – spoke out in favor of streamlining charging infrastructure to advance mass adoption of electric vehicles in the United States

The Washington Memorial stands in hazy smoke on June 8, 2023 in Washington, DC.

Alex Wang | Getty Images

Wildfire smoke that blanketed the northeastern United States for most of this week has made its way south, darkening Philadelphia; Washington D.C.; and parts of the Carolinas. Thousands of flights were delayed between Wednesday and Thursday as fog reduced visibility. Sporting events have been cancelled, some classrooms have turned to online learning to save school children the commute and health officials continue to warn of unsanitary conditions. President Joe Biden THURSDAY reassured the country that the United States help Canada fight the smoke-causing wildfires, sending firefighters and help north of the border. The National Weather Service is planning most of the smoke will come out of the east coast on Friday, although it is likely to hit the Ohio River Valley that day.

Travelers walk past JetBlue planes at Ronald Reagan Washington National Airport in Arlington, Virginia on March 9, 2023.

Stefani Reynolds | AFP | Getty Images

The United States has been heading into recession, or possibly standing on the edge of the cliff, or possibly already in decline – for months now, depending on who you ask. But ask the American consumer and by some definitions it’s fine. New home sales, leisure travel and employment growth remained bright spots in an otherwise fragile economy, helping to avoid a larger reset. “The U.S. and global expansions are on solid footing, and fears of an impending recession seem overblown,” Marko Kolanovic, global market strategist at JPMorgan, said in a note to clients this week. The question now is how long can a resilient consumer continue to spend in the face of ever-rising interest rates and changing post-pandemic priorities?

– CNBC’s Sarah Min, Dan Mangan, Michael Wayland, Leslie Josephs, Emma Kinery, Emma Newburger and Jesse Pound contributed to this report.

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